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Files under: News, Tech, Web 2.0
Posted by: Yakov @ 23:36 [20. 05. 08]
The leading Russian search engine Yandex is expected to raise up to $2 billion at initial public offering (IPO) of shares in New York in the upcoming autumn based on the company’s preliminary valuation of $5 billion, according to Reuters. Yandex is said to have mandated the investment banks Morgan Stanley, Deutsche Bank and Renaissance Capital to manage its IPO on NASDAQ.
Yandex topped both Yahoo! and Microsoft with 528 million (or 2.2 percent of European searches) in March 2008, according to comScore. Yandex reaches over 62% of Russian internet audience with more than 47% of all searches conducted in Russia, followed by Google, Rambler, and Mail.ru. Yandex reported revenues of $167 million in 2007. The company was founded by its current managers CEO Arkady Volozh and CTO Ilya Segalovich more than 10 years ago and only raised $5.3 million from private equity investors back in 2000.
Google’s co-founder Sergey Brin admitted in an interview to a Russian newspaper that Yandex “has many talented people”. Google is estimated to have twice less daily searches in Russia than Yandex.
Russia is expected to become the 2nd largest Internet market in Europe by the end 2008 with the country’s online advertising spending forecasted to double in 2008.
Tags: comScore Russia, Google Russia, Russian internet advertising, Russian IPO, Russian online spending, russian search engine, Russian search market, Yandex IPO
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7 Responses to «Yandex To Raise Up To $2 Billion at IPO In Fall 2008»
1 Report: Russian Search Leader Yandex Set for Massive IPO Yakov @ 23:36 [20. 05. 08]
[…] in Russia (Google is second), with revenues of $167 million last year. Yakov over at Quintura notes that the company has about 2.2% of the total European search market, which beats both Yahoo and […]
2 The Biggest Tech IPO of 2008 Is Coming Out of Russia: Search Engine Yandex to Raise Up To $2 Billion Yakov @ 23:36 [20. 05. 08]
[…] 15 years ago and the last funding I can find was only $5.3 million back in 2000, according to Quintura CEO Yakov Sadchikov (Quintura is a smaller search engine also based in Russia). If that is all the company raised, it […]
3 TechCrunch Japanese アーカイブ » 2008年最大のハイテクIPOはロシア発：検索エンジンのYandexが最大$2B調達へ Yakov @ 23:36 [20. 05. 08]
[…] ロシアのGoogleといえばYandex。そのYandexが今秋NasdaqでのIPOを準備中で、$1.5B（15億ドル）～$2B（20億ドル）の調達を期待している。ロイターが伝えた。これは同社の企業価値が$5B（50億ドル）となることを意味する。QuinturaのCEO Yakov Sadchikov（Quinturaはこれもロシア拠点の小規検索エンジン）によると、Yandexは15年前に設立され、同氏の知る限り最後の資金調達は2000年で金額はわずか$5.3M（530万ドル）だったという。もしこれが同社の調達した資金のすべてだとすれば、出資をしたru-Net Holdings、Baring Vostok Capital Partners、Tiger Technologiesの3社にとって超豪華な給料日になる。 […]
4 Russia’s Top Search Engine Yandex Raising Funds via IPO Yakov @ 23:36 [20. 05. 08]
[…] ago. It beats both Yahoo and Microsoft in March 2008 getting 522 million or 2.2 percent of all European searches conducted during the period, based on comScore data. It also got 47% of all searches conducted in […]
5 Russian search engine Yandex goes to Times Square, where billion waits Yakov @ 23:36 [20. 05. 08]
[…] engines, comfortably next to Google. The CEO of visual search engine Quintura Yakov Sadchikov keeps us to date by emailing the latest on Europe’s third search market. Well, today is one special day for the […]
6 eTc :: El blog de Marketing en Español » Blog Archive » Moscú 2.0 de Google en Rusia Yakov @ 23:36 [20. 05. 08]
[…] calles de Berlín. En esta ocasión ha empezado a hacer lo mismo en Rusia, para quitarle mercado a Yandex, que es el buscador líder en ese mercado. Para ello, Google ha iniciado una campaña, que con el […]
7 Learn from Quintura: use corporate blogging to get on Techmeme Yakov @ 23:36 [20. 05. 08]
[…] Like TechCrunch. Erick Schonfeld based his article about the biggest tech IPO of 2008 on this story. And Arrington found out about Google’s weird outdoor campaign by browsing on the Quintura […]
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